Executives negotiate millions of dollars on behalf of their employers for contracts, products, and services every year. Why then is it so difficult for most executives to negotiate their salaries when offered a job? Whatever the reasons, senior managers, directors and C-level executives are not immune from negotiating their salary for a new job opportunity. ... Read more
Trying to gather some competitive data on salaries for a particular job function? Here are six strategies you can use to gather important salary information. Knowing your market value before you start interviewing will help you craft a sound negotiation strategy later on if you are selected for the position.
“More?? You want more??!” is the cry we remember from Oliver Twist’s warden when poor Oliver asks for more gruel at the orphanage. Well, this is actually not the common response from employers when candidates have negotiated their salary, even in this economy.
I have coached several job seekers in the last month to successfully increase the salary of job offers. Two come to mind in particular, both in local government jobs which officially had hiring freezes. In one of these two cases, the candidate was offered a position at a level 2 grade and wanted to make the case that he was worthy of a level 3 grade because of his master’s degree. I actually called one of my contacts at the human resources department and asked how salary grades related to education and other credentials, and was told that the grades don’t necessarily correlate with anything except the length of time an employee is in the job (in this particular city government). The HR representative actually said “I seriously doubt whether he would get any more than what is offered, because we are laying people off and have a hiring freeze.” … Read more
For certain we are enduring one of the worst job markets since the 1930s. Unemployment is still near double digits and we are now only seeing early buds of a recovery. Jobs are far and few between and those landing are bolstered by solid networks and a great ability to communicate their accomplishments to employers only too willing to hire the best, the brightest and the most economical.
With that as a backdrop you would logically think that landing any job under any circumstance would be the order of the day. Not likely! In We now operate in an era of “mutual employment trust,” whereby employee and employer are on equal footing with each having the right of first recusal. This means that both the job seeker and the employer have equal rights to find each other unfit or unqualified. Sure jobs and job offers are hard to come by. But jumping at the first job that comes along might well be fool hardy at best or a disaster of major proportions at worst.
So what is the litmus test to ascertain if an employer is unfit to have you grace its presence? Here are some flags to ponder. … Read more
It seems to me that random thoughts float in the air, ready to be absorbed by random people. Such was the case last week when I had two clients, both of whom had completed their degrees and then continued to bartend!
Furthermore, both hung onto bartending with the same rationale: to pay down a school loan.
Even though both had chosen a similar strategy to deal with debt, that’s where the similarity ended. One bartended, worked for his dad and then eventually got into B2B sales; the other bartended and took care of her grandmother who recently passed away.
Both are now intent on returning in some fashion to their chosen interests: the fellow to an interest in the medical field and the young lady to event planning. Both have a similar interview quandary: How to respond to the inevitable interview question about their career path’s divergence from university studies?
Truthfully of course! What other option is there? The one, who has been working for about a decade since completing his post-secondary education, can honestly say that he found the school-related debt load to be psychologically difficult, and so he elected to continue earning in an established area of success to pay it off. He can then mitigate any potential obstacles that might cause by continuing to share how that led him into sales, a field in which he has had great success (and share a few successes, chosen for maximum impact and impression), and which has led him to return to his specialty and enter the field of medical devices sales.
The other can honestly share that she found her educational debt load to cause her such trepidation that she continued with her bartending, and at the same time she stepped up to the plate to help her family with their beloved Nona’s illness and passing. Two years later, debt paid and no family responsibilities, she is eager to resume her original intent and launch her career in event planning. To overcome any lingering questions, she should share how she is now volunteering with a major local event committee, as a positive step towards her goal.
Some interviewers won’t like the situations and that’s fine; there’s precious little you can do to sway these. Others will appreciate the honesty, find the refocused energy appealing, and admire the personalities. Best to work for a company that supports your values anyways, and best to let those others go.
TIP: Avoid using words that are wimpy and apologetic, such as “just,” “only,” “not much,” or “limited.” Find ways to share your story with words such as “exceeding,” “considerable,” “extensive,” and “resilient.” Be proud of your chosen path and don’t let anyone undermine your focus, pride and confidence!
Conventional Wisdom- Don’t Talk Salary Before You Have an Offer. This kind of information and advice, depending on industry and specific situations, may not be relevant today. In some ways the recession changed some things about salary negotiations.
Here is what I have seen that you may want to note as an executive jobseeker trying to negotiate your best deal:
1. You May Need to Deal with Salary Issues Up Front. I realize that it would be nice to let salary and compensation discussion happen at the end of the deal. That would be great. But you may want to be ready to cover some very heavy compensation discussions early. Or you may be eliminated.
2. Just Because You Have a Starting Number Doesn’t Mean it’s an Ending Number. What I have seen is that if a recruiter introduces you they may start with a number. The company may ask you to give them a range or an idea. Do Not Be Afraid to Do This. In this environment don’t get eliminated up front.
Prove your value throughout the interview process. Don’t be too arrogant about money. Many competitors of yours will take less. Get the secrets of negotiating your best deal by practicing your approach. One client admitted this: “Before I talked to you guys and got more tactics in my favor, I wan hyper-focused on salary. That matters. But the overall deal matters more.”
Exactly right. If you understand your value then focus on that throughout the interview process. Don’t turn down a $134,000 job because it pays you 9% less than you want. Examine the entire value realize that you will more than make it up as you progress and the company realizes it can’t do without you. They will eventually pay up. At least that’s the attitude you need to have in negotiations.
Last point, realize this – Negotiating Begins with the Resume or Phone Screen. In fact, don’t let your guard down. Negotiations start with your level of preparation…even before you contact the company.
What’s the bottom line? It’s up to you to uniquely prove your value proposition throughout the entire interview process. Do not step on a salary land mine by pushing a high range immediately.
That does not mean you have to leave money on the compensation table. Market your value and the company or organization may just up their offer for you in any economic environment.